The global stainless steel foil market size is expected to reach US$ 6.3 Billion in 2022 and US$ 10.4 Billion in 2032. It is likely to exhibit growth at a CAGR of 6.2% in the forecast period from 2022 to 2032.
Corrosion is the biggest problem for most of the end users which need metals for packaging applications. As a result of this, manufacturers are looking for corrosion resistant metal packaging applications like stainless steel foil which provide an edge over other metal packaging applications. Furthermore, stainless steel foil are comparatively lighter and tough owing to special coating applied on it. In addition, stainless steel foil are also less expensive as compared to other metal packaging applications. One of the crucial factors that increases the preference towards stainless steel foil is the extended shelf life provided by the products. A large number of end use industry face problems related to damage, decay, spoilage, etc. due to exposure to humidity and air, which have resulted in the need for packaging solution like stainless steel foil. Excellent vapor barrier protection with water proof sealing provided by stainless steel foil makes it possible for retailers and vendors to increase shipment distance of packaged goods. Stainless steel foil provides better high strength to weight ratio as well as resistance towards oxidation at high temperature. 304 grade stainless steel foil is the most commonly used owing to less amount of carbon content which eliminates the chances of corrosion.
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Global Stainless Steel Foil Market – Dynamics
The stainless steel foil market is expected to grow significantly owing to upsurge demand for lightweight and tough metal packaging solution across the globe. Stainless steel foils can be easily converted to alloys which are used in dairy, food, & pharmaceutical industry. Nevertheless the material is very strong, stainless steel foil can be trimmed, perforated or pressed in order to provide better fit for desired applications. In addition, stainless steel foil can easily mix with additives like chromium, nickel, etc. which increases its strength and durability of the product. Furthermore, stainless steel foil can withstand high temperature with ultra-high vacuum (UHV) compatibility as compared to aluminum foil.
Global Stainless Steel Foil Market – Regional Overview
U.S. stainless steel foil market in North America region is expected to dominate the market owing to extensive usage of stainless steel foil for automotive and aerospace industry. India and China are expected to witness substantial growth for Asia Pacific stainless steel foil market. However, the Middle East & Africa stainless steel foil market is anticipated to witness sluggish growth during the forecast period.
Global Stainless Steel Foil Market – Key Players
A few of the key players in the stainless steel foil market are ArcelorMittal, Tata Steel Limited, Jindal Stainless Ltd., Reliance Foundry Co. Ltd., Hollinbrow Precision Products (UK) Ltd., AK Steel Corporation, All Foils, Inc., Nisshin Steel Co., Ltd., A.J. Oster, LLC, Ulbrich Stainless Steels & Special Metals, Inc., etc. Some of the local and unorganized players are also expected to contribute to the stainless steel foil market during the forecast period.
The report on stainless steel foil market is a compilation of first-hand information, and qualitative & quantitative assessment by industry analysts, as well as inputs from industry experts and industry participants across the value chain. The report stainless steel foil market provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segment. Stainless steel foil market also maps the qualitative impact of various market factors on market segments and geographies.
The global stainless steel foil market is divided into seven major regions, which are as follows –
- North America
- Asia – Pacific excluding Japan (APEJ)
- Latin America
- Eastern Europe
- Western Europe
- Japan
- Middle East & Africa (MEA)
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Global Stainless Steel Foil Market – Segmentation
The global stainless steel foil market is segmented by grade type, product type, material type, application, and end use. The pricing for stainless steel foil has being done based on grade type segment in US$ million, and the volume is considered in number of tonnes.
On the basis of grade type, the global stainless steel foil market is segmented into –
- 304 stainless steel
- 316 stainless steel
- Others (430, 201, 301, 309, 302, 321 and 347)
On the basis of product type, the global stainless steel foil market is segmented into –
- Austenitic stainless steel
- Ferritic stainless steel
- Martensitic stainless steel
- Duplex stainless steel
On the basis of material type, the global stainless steel foil market is segmented into –
- Iron
- Chromium
- Nickel
- Molybdenum
- Others (Manganese)
On the basis of applications, the global stainless steel foil market is segmented into –
- Void Filling
- Cornering
- Insulation
- Blocking & Bracing
On the basis of end use, the global stainless steel foil market is segmented into –
- Automotive
- Electrical & Electronics
- Pharmaceutical
- Chemical
- Defense
- Aerospace
- Building & Construction
- Industrial
- Food
- Others
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